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BMW R&D spending rises 18 percent on higher annual profit

FRANKFURT (Reuters) - German carmaker BMW expects record sales this year as it reported a 5.3 percent rise in 2017 operating profit on surging demand for high-margin sports utility vehicles, helping to offset higher research spending.Full-year earnings before interest and tax (EBIT) rose to 9.88 billion euros ($12.23 billion), BMW said on Thursday, helping the operating margin in its automotive division to remain at 8.9 percent, compared with a year earlier.BMW released earnings ahead of its scheduled annual results press conference on March 21. It said it would propose a divided of 4 euros ...

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